Hello, Jay. I will answer for now to your 2., since I am a bit...

Hello, Jay.

I will answer for now to your 2., since I am a bit short of time for now, but later I will answer to your 1.

Drake pre-TO owned about 38.5%, BBX have exercised options, that put Drake on about 36%, let's say. But you have to take in account three factors:

1) Yesterday more than 7 millions in shares were traded at 4.6, and I am assuming Drake absorbed them all. I don't believe there was a "fake" buy/sell, and when the disclosure come we will see it. It's, however, still well below the 50%, so let's go to 2)

2) They have options. A lot of them. They will only exercise them if needed, as they only intend to fund the company if they have control of it. Those options bring their % to about 44-45, but that is still not enough

3) In these kind of hostile take-over bid, it's very common for the most of transactions being made on the last days at the bid level. What we saw yesterday was only a symptom of that. There is people that trade on a short-term basis, and if their goal is not met, they will sell. In this case, without a loss, and some with a small profit.

You might say these are assumptions, at least 3). But those are reasonable assumptions when we look at similar takeovers in different markets around the world, and that's why I said they are close to it.

Regarding the fact I start to post here on HC today, I am a long time lurker (one year and something), and decided to join yesterday. I only have shares in BBX (regarding ASX) and I decided to post only in the companies I own a piece.

Is it suspicious? Not for me, of course, but I agree that some of you can (and should) take my views with a grain of salt. After all, I am a newcomer in a decisive moment of the company and my timing is really weird.

I also am sitting in the middle of the fence here, as I have not decide if I continue to hold or not, but for the sake of BBX I don't want to fatten the Drake part of the pie.

One thing I say: if I sell my shares, I will stop posting here, and will post on other companies (if I acquire shares on them, of course).

Regarding the problems with samples (and mineralogy) I will return later as the post will probably be longer. If you want, and to not disturb some forum users, I can send my opinions on the matter in a pm or by e-mail.

Regards